Ternium (NYSE:TX) Stock Price Target Raised at Wells Fargo & Company

Key Points

• Wells Fargo raised Ternium’s price target from $52 to $56 while maintaining an “equal weight” rating, implying 3.34% downside from the prior close.
• Analyst sentiment is broadly positive, with Ternium carrying a “Moderate Buy” consensus rating and an average price target of $55.72; JPMorgan has the highest target at $67.50.
• Ternium shares opened at $57.94, near their 52-week high of $59.32. The company reported quarterly EPS of $1.80 on $4.34 billion in revenue, while institutional investors own 11.98% of the stock.

Ternium (NYSE:TX - Get Free Report) had its price target raised by analysts at Wells Fargo & Company from $52.00 to $56.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an "equal weight" rating on the basic materials company's stock. Wells Fargo & Company's price target points to a potential downside of 3.34% from the stock's previous close.

TX has been the topic of a number of other reports. HSBC reiterated a "hold" rating and issued a $55.00 target price (up from $53.00) on shares of Ternium in a research note on Friday, August 21st. JPMorgan Chase & Co. lifted their price objective on shares of Ternium from $60.50 to $67.50 and gave the company an "overweight" rating in a research report on Friday, September 4th. Wall Street Zen raised shares of Ternium from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. Weiss Ratings upgraded shares of Ternium from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 10th. Finally, UBS Group boosted their price objective on Ternium from $56.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.72.

Ternium Stock Down 0.1%

NYSE:TX opened at $57.94 on Tuesday. The firm has a market capitalization of $11.61 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 0.17 and a beta of 1.17. The stock has a 50 day moving average of $54.93 and a 200-day moving average of $48.00. Ternium has a 52 week low of $33.01 and a 52 week high of $59.32. The company has a current ratio of 2.58, a quick ratio of 1.43 and a debt-to-equity ratio of 0.14.

Ternium (NYSE:TX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share (EPS) for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%.The business had revenue of $4.34 billion for the quarter. Analysts predict that Ternium will post 6.54 EPS for the current year.

Institutional Trading of Ternium

A number of hedge funds and other institutional investors have recently made changes to their positions in TX. Donald Smith & CO. Inc. bought a new stake in Ternium in the second quarter worth about $134,131,000. Lazard Asset Management LLC grew its stake in shares of Ternium by 8.0% in the 1st quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company's stock worth $254,395,000 after purchasing an additional 469,846 shares during the last quarter. Nykredit A S bought a new stake in Ternium during the second quarter worth approximately $14,329,000. Cape Ann Asset Management Ltd grew its position in Ternium by 20.5% in the fourth quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company's stock worth $40,812,000 after buying an additional 182,000 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Ternium in the second quarter valued at $5,704,000. 11.98% of the stock is currently owned by institutional investors.

Ternium Company Profile

Ternium SA NYSE: TX is a steel producer serving customers primarily in the Americas. The company manufactures a broad range of steel products, including flat steel, long steel, slabs, billets, galvanized and pre-painted steel, and other value-added products used in construction, automotive manufacturing, appliances, energy, machinery, and other industrial applications.

Ternium operates an integrated steelmaking and processing network with production and distribution activities in countries including Mexico, Brazil, Argentina, Colombia, and the United States.

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